We live in the'age of the customer'; a time when customers use multiple channels to interact with your brand, spend more, and have access to more information about you, than ever before. It is a time when customers are two swipes away from a list of reasons why they should switch to your competitor. Banks, global vehicle OEMs, major enterprises, even governments, used to wait and react to customer interactions when customers visited their stores, dealers, branches, or offices. They were, in other words, reactive in dealing with customers. Enter the new era of customer experience.
Telecoms operator Vodafone has been fined £4.6m by Ofcom for "serious and sustained breaches of consumer protection rules". It follows an earlier investigation that found Vodafone had misled pay-as-you-go customers over top-up payments. The regulator also said Vodafone had broken the rules on handling customer complaints. Vodafone offered its "profound apologies" for the failures. The fines stem from two investigations into Vodafone, which has 20 million mobile customers in the UK.
Customers have gradually high expectations of the brands with which they share their data. Today the way companies collect and use data, and the way their customers share it, is changing. For years companies have been striving to create customer loyalty programs that stick. Companies must move away from just collecting customer data, to using it in a way that provides more value or a better experience for their customers. Why companies want certain types of customer data and what the benefits for the customer will be?
Want to get more value from your customer data? This infographic illustrates the most widely used sources of customer data, and the benefits you can get when you predict customer behavior. These findings are based on a recent study by Alteryx and AbsolutData, and include some challenges that prevent analytics from being used as effectively as it could be to drive critical improvements in sales, marketing, customer satisfaction/loyalty, and operational efficiency.